Problem
i. What is an adequate description of the four types of budgets that NPOs use?
ii. What would you say to a novice when defining five basic terms used in NPO budgeting (you decide which are the five basic terms)?
iii. How would you describe the essential elements of the annual budget used by an NPO?
iv. How can the NPO's annual budget show a direct relationship to its MV&Gs?
v. What is "fund accounting" and how is it different from "business" accounting?